PERFORMANCE TASK NO.

GENERAL JOURNAL PAGE 1

DATE ACCOUNT TITLE & EXPLANATION P.R DEBIT CREDIT
A. Cash  110 250,000  
  V. Capital  310   250,000
  Initial Investment      
         
B. Furniture and Fixtures  120 6,700  
  Cash  110   6,700
  Bought Furniture and Fixtures with cash      
         
C. Supplies Expense  510 3,250  
  Accounts Payable  210   3,250
  Bought supplies on account      
         
D. Cash  110   5,750
  Rent Expenses  520 5,750  
  Paid rent for the month      
         
E. Equipment  130 115,000  
  Cash  110   35,000
  Accounts Payable  210   80,000
Bought equipment’s with a downpayment
  and balance on account      
         
F. Laundry Revenue  410   19,250
  Cash  110 19,250  
Laundry revenue for the first half of the
  month      
         
G. Cash  110   5,600
  Prepaid Insurance  140 5,600  
  Bought insurance for one year      
         
H. Cash  110   7,000
  Accounts Payable  210 7,000  
  Paid accounts to Iloilo Equipment Company      
         
I. Cash  110   2,080
  Utilities Expense  530 2,080  
  Received and paid the electric bill      
         
J. Laundry Revenue  410   12,350
  Cash  110 12,350  
Laundry revenues earned on cash basis for
  the second half of the month      
         
K. Cash  110   7,400
  Salaries Expense  540 7,400  
  Paid salaries of the part-time assistant      
         
L. V. Withdrawal  320 5,000  
  Cash  110   5,000
  Withdrew cash for personal use      
         
M. Accounts Payable  210 2,750  
  Cash  110   2,750
Paid accounts to Salvador Ho Supply
  Company      
N. Cash  110   2,800
  Miscellaneous Expense  550 2,800  
Paid the city government for repair
assessment
      444,930 444,930
 GENERAL LEDGER
ACCOUNTS: CASH
BALANCE
DATE EXPLANATION J.R DEBIT CREDIT
DEBIT CREDIT
A. Initial Investment  G.J-1 250,000 250,000
Bought furniture and fixtures
B. in cash  G.J-1 6,700 6,700
D. Paid rent for the month  G.J-1 5,750 5,750
Bought equipments with a
downpayment and balance on
E. account  G.J-1 35,000 35,000
Laundry revenue for the first
F. half of the month  G.J-1 19,250 19,250
G. Bought insurance for one year  G.J-1 5,600 5,600
Paid accounts to Iloilo
H. Equipment Company  G.J-1 7,000 7,000
Received amd paud the
I. electric bill  G.J-1 2,080 2,080
Revenues earned on cash
basis for the second half of
J. the month  G.J-1 12,350 12,350
Paid salaries of the part-time
K. assistant  G.J-1 7,400 7,400
Withdrew cash for personal
L. use  G.J-1 5,000 5,000
Paid accounts to Salvador Ho
M. Supply Company  G.J-2 2,750 2,750
Paid the city government for
N. repair  G.J-2 2,800 2,800
          281,600 80,080
          201,520
ACCOUNTS: FURNITURE AND FIXTURES
BALANCE
DATE EXPLANATION J.R DEBIT CREDIT
DEBIT CREDIT
Bought furniture and fixtures
B. in cash  G.J-1 6,700   6,700  
     6,700
ACCOUNTS: EQUIPMENT
BALANCE
DATE EXPLANATION J.R DEBIT CREDIT
DEBIT CREDIT
Bought equipments with a
downpayment and balance on
E. account  G.J-1 115,000   115,000  
    115,000

ACCOUNTS: PREPAID INSURANCE

BALANCE
DATE EXPLANATION J.R DEBIT CREDIT
DEBIT CREDIT
G. Bought insurance for one year   5,600   5,600  
    5,600

ACCOUNTS: ACCOUNTS PAYABLE

 BALANCE
DATE EXPLANATION J.R DEBIT CREDIT
DEBIT CREDIT
C. Bought supplies on account  G.J-1  3,250  3,250
Bought equipments with a
downpayment and balance on
E. account  G.J-1   80,000 80,000
Paid accounts to Iloilo
H. Equipment Company G.J-1 7,000 7,000
Paid accounts to Salvador Ho
M. Supply Company G.J-2 2,750 2,750
9,750 83,250
76,250

ACCOUNTS: VILLANUEVA, CAPITAL

BALANCE
DATE EXPLANATION J.R DEBIT CREDIT
DEBIT CREDIT
A. Initial Investment  G.J-1  250,000 250,000
    250,000

ACCOUNTS: VILLANUEVA, WITHDRAWALS

BALANCE
DATE EXPLANATION J.R DEBIT CREDIT
DEBIT CREDIT
Withdrew cash for personal
L. use  G.J-1 5,000   5,000
     5,000

ACCOUNTS: LAUNDRY REVENUE

BALANCE
DATE EXPLANATION J.R DEBIT CREDIT
DEBIT CREDIT
Laundry revenue for the first
F. half of the month  G.J-1  19,250 19,250
Laundry revenues earned on
cash basis for the second half
J. of the month G.J-1 12,350 12,350
    31,600

ACCOUNTS: SUPPLIES EXPENSE

BALANCE
DATE EXPLANATION J.R DEBIT CREDIT
DEBIT CREDIT
C. Bought supplies on account  G.J-1 3,250   3,250
    3,250

ACCOUNTS: RENT EXPENSE

BALANCE
DATE EXPLANATION J.R DEBIT CREDIT
DEBIT CREDIT
D. Paid rent for the month  G.J-1 5,750   5,750
    5,750

ACCOUNTS: UTILITIES EXPENSE

DATE EXPLANATION J.R DEBIT CREDIT BALANCE
 DEBIT CREDIT
Received and paid the electric
I. bill  G.J-1 2,080   2,080
    2,080

ACCOUNTS: SALARIES EXPENSE

BALANCE
DATE EXPLANATION J.R DEBIT CREDIT
DEBIT CREDIT
Paid salaries of the part-time
K. assistant  G.J-1 7,400   7,400
    7,400

ACCOUNTS: MISCELLANEOUS EXPENSE

BALANCE
DATE EXPLANATION J.R DEBIT CREDIT
DEBIT CREDIT
Paid the city government for
N. repair assessment  G.J-2 2,800   2,800
    2,800